[Resolved] HDFC Bank — loan amount misleading

Nalamasa Ramesh

from Mumbai, Maharashtra

Address:

Hyderabad, Telangana

I nalamasa ramesh having hdfc peronal loan account no. 63725884.
I went through a deal with hdfc bank for a personal loan of amount 500000 rupess with 12% interest for a tenure of 5 years with emi of 11122 rupees, they agreed too for the same. And i signed on the agreement papers.

But they credited me 1 lakh less only 400000 rupees only, raised the 2%interest i. E 14% and decreased the tenure 1 year i. E only 4 years with emi of 10931 rupees, all this done by them without informing me.

I questioned about all of this mishappenings, they replied me that you are eligible for this much amount only, then i raised a complaint against hdfc bank, then complaint resolved from hdfc called me and asked me to pay 3 successful emis then they will top up 1 lakh more amount and reduce the interest to 12% and increase the tenure to 5 years, but now there is no response from them.

Actual promise by them is 5 lakh with 12% interst for 5 years with emi 11122 rupees
Sanctioned by them is 4 lakh with 14% interest for 4 years with emi 10931 rupees

So i kindly request you make them top up 1 lakh amount with reducing 14% to 12% interest and increasing the tenure to 5 years.

Iam already paying 10931 rupees emi since 3 months, if they top up 1 lakh, i have to pay 11122 rupees only for 5 years.. There is no variation in above two emi only variation is time period

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May 25, 2019

Complaint marked as Resolved

HDFC Bank customer support has been notified about the posted complaint.

Verified Support

Apr 24, 2019

HDFC Bank Customer Care's response Dear Customer,

We submit that Personal Loan was disbursed post-execution and signing of loan agreement cum schedule and issuance o[censored]n-encashed security cheques along with repayment instructions in favor of the Bank for the equated monthly installment (EMI). Once the customers execute the agreement, they are deemed to have accepted all terms/conditions and agreed to abide by the same. The interest rate, EMI amount, processing fees and loan tenure were clearly communicated to and accepted by you and the loan application has been processed on that basis only. However, in case any written commitment for the loan with the mentioned rate of interest and amount was conveyed to you, kindly share the same with us at [protected]@hdfcbank.com for our further investigations in the matter. Mention this Ref No. TTU[protected] in the subject of your mail so it'll help us track your e-mail.

-Anay
HDFC Bank Customer Assistance